Republic Services (NYSE:RSG) EVP Brian Bales Sells 3,400 Shares of Stock

Republic Services, Inc. (NYSE:RSG) EVP Brian Bales sold 3,400 shares of Republic Services stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $244.00, for a total value of $829,600.00. Following the transaction, the executive vice president owned 17,616 shares in the company, valued at $4,298,304. This trade represents a 16.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Republic Services Stock Up 1.0%

NYSE RSG traded up $2.48 during trading hours on Wednesday, reaching $245.35. 1,256,813 shares of the company’s stock were exchanged, compared to its average volume of 1,364,172. The company’s 50-day moving average is $223.85 and its two-hundred day moving average is $217.32. Republic Services, Inc. has a one year low of $196.41 and a one year high of $249.37. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.64 and a current ratio of 0.75. The company has a market capitalization of $74.74 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 4.04 and a beta of 0.32.

Republic Services (NYSE:RSG) last announced its earnings results on Thursday, October 29th. The business services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.93 by $0.01. Republic Services had a net margin of 12.93% and a return on equity of 18.56%. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same period last year, the company posted $1.90 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts forecast that Republic Services, Inc. will post 7.26 EPS for the current fiscal year.

Republic Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, January 4th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, January 4th. Republic Services’s dividend payout ratio is 37.07%.

Hedge Funds Weigh In On Republic Services

A number of large investors have recently modified their holdings of RSG. Korea Investment CORP bought a new stake in Republic Services during the second quarter worth about $20,602,000. Equitable Holdings Inc. bought a new position in Republic Services in the second quarter valued at approximately $1,381,000. Bridgewater Advisors Inc. bought a new position in Republic Services in the second quarter valued at approximately $535,000. Public Employees Retirement System of Ohio acquired a new position in shares of Republic Services during the 2nd quarter worth approximately $16,335,000. Finally, Rakuten Investment Management Inc. acquired a new position in shares of Republic Services during the 2nd quarter worth approximately $7,032,000. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RSG. Citigroup boosted their price target on Republic Services from $259.00 to $281.00 and gave the company a “buy” rating in a report on Monday. The Goldman Sachs Group decreased their price objective on Republic Services from $256.00 to $246.00 and set a “buy” rating for the company in a report on Friday, October 2nd. Barclays lifted their target price on Republic Services from $240.00 to $254.00 and gave the company an “equal weight” rating in a research report on Monday. Weiss Ratings raised Republic Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Finally, UBS Group raised their price target on shares of Republic Services from $233.00 to $235.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Twelve equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Republic Services has an average rating of “Moderate Buy” and an average price target of $249.32.

Republic Services Company Profile

Republic Services, Inc is an environmental services company that provides waste collection, recycling and disposal solutions for residential, commercial, industrial and municipal customers. Its services include curbside collection, dumpster and roll-off container services, transfer station operations, landfill management and recycling processing.

The company also provides specialized environmental services, including hazardous waste management, emergency response, remediation and other sustainability-related solutions for businesses and government organizations.